After a subdued 2009, the M&A deals seem to be picking up steam in 2010. India had great 2007 and 2008 when it came to Mergers & Acquisitions, however, 2009 recession saw drastic fall in cross border M&A deals.

Now according to report published by Dealogic, India has emerged as the second most targeted nation among the BRIC region, after China. India has already mopped up merger and acquisitions deals worth $2.8 billion so far this year alone.

China surpassed India by a very high margin, where the M&A deals worth 8.3 Billion were executed followed by India which accounted for around $2.8 billion dollar worth of deals.

While the India-targeted M&A deals so far in 2010 grew by 43 per cent from $1.98 billion in the year-ago period, China targeted volume rose 88 per cent to $8.3 billion.

So far in 2010, the BRIC targeted M&A volume has reached $12.7 billion, up 42 per cent compared with 2009 year-to-date (YTD). The BRIC M&A volume accounts for 10 per cent of global M&A volume in 2010 YTD, the report said.

It added that the top five BRIC deals in 2010 YTD, involve Chinese and Indian targets and account for 47 per cent of the total BRIC volume